Canadian Banks Conference Takeaways

Canadian Banks Conference Takeaways

Our Conclusion

Optimism is on the rise and has replaced some of the concerns on our minds that this conference has typically helped work out over the years. All participants were optimistic and comfortable with the operating environment and outlook, which reinforces our positive stance on the sector at this time. BMO disclosed a charge upcoming in Q4/F17 associated with elevated natural disasterrelated claims in BMO Insurance. The business typically produces earnings of $60 million to $65 million and the charge could mean a slight loss in the upcoming quarter. What’s The Event? We hosted senior executives from the Canadian banks on Day 1 of our 16th Annual Eastern Institutional Investor Conference. In this note, we provide a summary of the key takeaways from the following speakers: – Bank of Montreal – Patrick Cronin – Group Head, BMO Capital Markets (link to webcast) – Bank of Nova Scotia – Sean McGuckin, Chief Financial Officer (link to webcast) – Canadian Western Bank – Chris Fowler, President & CEO (link to webcast) – Laurentian Bank – Francois Laurin, Executive Vice-President and CFO (link to webcast) – National Bank – Diane Giard, Executive Vice-President, Personal-Commercial Banking and Marketing (link to webcast) – TD Bank – Teri Currie, Group Head, Canadian Personal Banking (link to webcast) Victor Dodig, President & CEO, CIBC (link to webcast) also presented at the conference.

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